American soybean meal trade with Philippines meets fierce competition

Introduction: this year, due to strong competition from Argentina and China, the dominant position of the US in the Philippine soybean meal market will be shaken The Philippines is the largest export market of the United States Two years ago, the U.S had a market share of 90% in the Philippines, but Argentina and China have been competing with the U.S in the past two years Teodoro Cortes, manager of the Philippines Department of the American Soybean Association (ASA), said that the United States is facing challenges in soybean meal sales The key to success or failure lies in China's soybean meal sales and Argentina's value-added tax, but the United States is likely to lose market share In 2001, the U.S soybean meal market share in the Philippines decreased by 72%, mainly seized by Argentina In addition to China, India is also a soybean meal supplier China is trying to compete for the Southeast Asian market and try to enter the Philippine market, which is a threat to American suppliers The Philippines imports just over one million tons of soybean meal every year Argentina's soybean harvest in 2000 / 01 reached a record 26.7 million tons, and analysts expect this year's output to reach a record of nearly 30 million tons With the launch of new Argentine soybean meal supplies, traders have begun to sell soybean meal, which starts in May Argentina is making itself a long-term supplier to the Philippines, and traders are comparing soybean meal prices in Argentina and the United States to make them more attractive Argentine soybean meal is 10 to 15 dollars cheaper per ton than American soybean meal